Fleet management system market to garner $64.9 billion by 2031

Fleet management system market to garner $64.9 billion by 2031

As per the report published by Allied Market Research, the global fleet and transportation management system for transportation and logistics market was accounted for at $24.9 billion in 2021, and is expected to reach $64.9 billion by 2031, growing at a CAGR of 10.3% from 2022 to 2031. The report is an essential and helpful source of information for leading market players, investors, new entrants, and stakeholders in formulating new strategies for the future and taking steps to strengthen their position in the market.    

Report coverage & details:

Report CoverageDetails
Forecast Period2022–2030
Base Year2021
Market Size in 2021$24.9 billion
Market Size in 2031$64.9 billion
CAGR10.3%
No. of Pages in Report349
Segments CoveredApplication, Component, and Region
DriversRapid technological advancements across transportation & logistics sector – Growth of the e-commerce industry
OpportunitiesStrengthening communication network
RestraintsLack of uninterrupted & seamless internet connectivity – High upfront costs

Covid-19 scenario

  • The lockdown measures taken to curb the spread of the virus took a major toll on the global economy. The prolonged lockdown in most the European and Asian countries disrupted the supply chain.
  • However, in the post-pandemic, demand for fleet and transportation management solutions that enhance efficacy and efficiency of first-mile and last-mile, logistics, improve mobile resource, utilization, and enhance fleet’s ability in improving revenue growth will rise.

The report segments the global fleet and transportation management system for transportation and logistics market on the basis of application, component, and region.

Based on application, the scheduling routing and tracking segment held the largest share in 2021, accounting for nearly one-third of the market. However, the telematics segment is expected to manifest the highest CAGR of 11.6% from 2022 to 2031.

On the basis of component, the solution segment dominated the market in terms of revenue in 2021, contributing to around two-thirds of the market. However, the services segment is expected to register the highest CAGR of 12.3% during the forecast period.

The global fleet and transportation management system for transportation and logistics market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the largest share in 2021, accounting for around two-fifths of the market. However, the market across Latin America region is expected to register the highest CAGR of 12.8% during the forecast period. 

The global fleet and transportation management system for transportation and logistics market report includes an in-depth analysis of the prime market players such as Azuga Inc., E2open Parent Holdings Inc., Element Fleet Management Corp, Geotab Inc., Holman Inc., MercuryGate International Inc., Solera Holdings LLC, Trimble Inc., Verizon Communications Inc., Wheels LLC, SAP SE, and Samsera Inc.

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